- My mother is the main applicant and i am the co-applicant of our home loan.
- My mother is the only owner of this property.
I would like to know how much IT exemption can be claimed by me and my mother?
Vivek B (6 Points)
14 July 2018I would like to know how much IT exemption can be claimed by me and my mother?
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 14 July 2018
loan in the name of both so u can take dedection u/s 80c upto rs 1.5lakh subject to condition fulfilled
Vivek B
(6 Points)
Replied 14 July 2018
I do not need to be a co-wner of the property? Also, can me and my mum can get exemption individually i.e 1.5 lakhs each?
CA Naveen Chand
(Chartered Accountant)
(12739 Points)
Replied 14 July 2018
BOTH OF U SHOULD BE CO-OWNERS AND CO-BORROWER TO AVAIL THIS DEDUCTION
J S BHAVSAR
(CONSULTING)
(1315 Points)
Replied 01 August 2018
But Vivek B is saying he is Co-Borrower BUT not the Co-owner. What can he claim in such case?
Amit Kumar Bansal
(Job/Blogger)
(688 Points)
Replied 09 August 2018
You can get the benefit u/s 80C up to 1,50,000/-